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Chegg began trading shares publicly on the New York Stock Exchange in November 2013. [15] Its IPO was reported to have raised $187.5 million, with an initial market capitalization of about $1.1 billion. [16] In 2014, Chegg entered a partnership with book distributor Ingram Content Group to distribute all of Chegg's physical textbook rentals ...
The education technology company Chegg, which was a website dedicated to helping students with assignments using a database of collected worksheets and assignments, became one of the most prominent business victims to ChatGPT, with its stock price nearly being cut in half after a quarterly earnings call in May 2023. [16] [17]
Chegg stock has lost nearly 70% over the last year and has been roughly cut in half in 2024. From its peak in 2021, the stock is down over 95%. Since the launch of ChatGPT in late 2022 the company ...
Chegg Tutors was founded in 2011 as InstaEDU and launched into public beta in May 2012. At that time, the company also announced that it had raised $1.1M in venture capital funding from The Social+Capital Partnership. [2] Two of the company's co-founders had previously run an in-home tutoring company called Cardinal Scholars.
Chegg expanded from textbook rental into a portfolio of student services under his leadership, [2] [8] transforming Chegg's digital assets to meet student needs. In June 2024, Rosensweig stepped down as CEO of Chegg, and was succeeded by Nathan Schultz. [11] Rosensweig is a proponent of mentoring, [12] and of workplace equality. [13]
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Steve Huffman (born 1983 or 1984), also known by his Reddit username spez (/ s p ɛ z /), is an American web developer and entrepreneur.He is the co-founder and CEO of Reddit, a social news and discussion website, which ranks in the top 20 websites in the world. [4]
In July 2019, LeBlanc was appointed to the board of directors of Chegg, an American education technology company that provides textbook rentals and sells students solutions to their course assignments and exam questions. [20] In 2016, he was the second highest paid college administrator in New Hampshire with a salary of almost one million dollars.
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